Tag Archives: Beta Glass Plc

Beta Glass Q1 2016 net profit drop 85%

Beta Glass Plc, maker of glass bottles for bottling companies and brewers said its revenue declined by 24% to N3 billion, from N4 billion in the same period a year ago.

Beta Glass core glass making business is in decline as more beverage companies and brewers switch to cans and plastics packaging.

Frigoglass Q4 losses widens amid market challenges in Russia

frigoglass

Greek refrigerator maker, Frigoglass, said on Thursday that its fourth quarter losses grew due to tough market conditions in Russia.

Frigoglass, which supplies Coca-Cola HBC and other European brewers, reported a net loss of €15.9m ($18.02m) for the fourth quarter of 2015, as against €6.2m loss incurred in the same period in 2014.

Frigoglass cancels deal to sell glass business to GZ Industries

frigoglass

Frigoglass, the Greek refrigeration company has terminated an agreement to sell its 70% stake in Beta Glass Plc to GZ Industries Ltd, after the prospective buyer failed to secure the necessary financing for the deal.

Frigoglass last year reached an agreement to sell its $225m stake in Beta Glass, a glass container business in Nigeria and Dubai and the complementary plastic crates and metal crowns operations to GZ Industries. The agreement was expected to be finalized in the current quarter.